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The global electric motors and generators market attained a value of about USD 169.5 billion in 2021. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.5% to reach nearly USD 233.7 billion by 2027.
The increasing use of electric motors as a sustainable alternative to gas-burning counterparts in various industries is driving the market growth. With the evolution of designs of electric motors, their versatility, reliability, and efficiency are increasing, which is fuelling the market growth. The growing cost-effectiveness of electric motors and generators is surging their use in various industries, which is also propelling the industry growth. As miniature electric devices are increasingly used in various industries like medical and construction, among others, the demand for small electric motors is surging, hence driving the market growth.
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The increasing supply-demand disparity between electricity is augmenting the growth of the electric motors and generators industry. With the growing concerns regarding rapid climate change, the use of natural resources like the wind for power generation in electric generators is surging, which is driving the market growth. In addition, the enhanced efficiency and cost-effectiveness offered by electric generators operated with natural resources are providing impetus to the growth of the industry. The advent of bi-fuel technology to boost the efficiency and environmental benefits of large electric generators is anticipated to augment the market for electric motors and generators in the coming years.
Electric motors are devices that are used to convert electrical energy into mechanical energy by deploying the principles of electromagnetism. They are essential for the functioning of electrical devices, such as air conditioners, vacuum cleaners, and pumps, among others. Electric generators refer to machines that convert mechanical energy into electrical energy for its distribution over power lines. They are typically used to provide adequate electricity supply in commercial, residential, and industrial applications.
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The global electric motors and generators market is segmented into global electric motors and global electric generators markets.
The electric motors market is divided into types, applications, and regions.
The major types of electric motors and generators markets are:
Based on application, the market is classified into:
The industrial segment, based on power types, is segmented into low power, medium power, and high power, whereas the residential and commercial segment, on the basis of application type, is segregated into HVAC and home appliances, among others. Meanwhile, the e-mobility segment, based on type, is classified into 2 and 3 wheelers, light vehicle (passenger vehicle), commercial vehicle (light and medium commercial), heavy truck (heavy commercial), marine, train, and aerospace, among others.
The electric generators market is divided into type, power generation, and region.
The market can be broadly categorised on the basis of power generation into:
The EMR report looks into the regional markets of electric motors and generators like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The advent of Industry 4.0 is driving the market for electric motors and generators. As uninterrupted power supply is crucial in smart factories deploying Industry 4.0, the growing demand for generators to future-proof electric supply is adding to the growth of the market. The increasing preference for smart generators that can efficiently fulfil the power requirements of a manufacturing plant, especially in regions prone to power outages, is significantly contributing to the market expansion. Moreover, the development of innovative electric generators that can predict power requirements while operating silently to boost cost-effectiveness and comfortability is anticipated to provide further impetus to the growth of the market in the forecast period.
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Technological advancements and innovations are expected to fuel the growth of the electric motors and generators industry. The integration of artificial intelligence (AI) to automate controls for electric motors while boosting efficiency is surging their applications in major industries, which is predicted to augment the market growth. Moreover, the advent of robotics, especially in the manufacturing sector, is expected to surge the use of AI-enabled electric motors to bolster productivity and enhance cost-effectiveness, which is estimated to significantly contribute to the growth of the market.
The report presents a detailed analysis of the following key players in the global electric motors and generators market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Electric Motors Market by Type |
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| Electric Motors Market by Application |
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| Electric Generators Market by Power Generation |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Electric Motors and Generators Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2021, the global electric motors and generators market attained a value of nearly USD 169.5 billion.
The market is projected to grow at a CAGR of 5.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 233.7 billion by 2027.
The market is being aided by the rising use of electric motors as a sustainable alternative to gas burning, the increasing cost-effectiveness of electric motors, and the growing use of natural resources for power generation of electric generators.
The industry is projected to be propelled by the advent of Industry 4.0, technological advancements, and the rising demand for AI-enabled electric motors.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of electric motors and generators in the industry are AC motors and DC motors.
The significant applications of electric motors are industrial, commercial and residential, and e-mobility, among others.
The different power generations of electric generators are thermal, hydro, nuclear, and wind, among others.
The major players in the industry are ABB Ltd, Robert Bosch GmbH, Siemens AG, General Electric, Rockwell Automation, Inc., Nidec Corporation, Cummins Inc., Caterpillar Inc., Mitsubishi Heavy Industries, Ltd., and Atlas Copco, among others.
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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